Huawei has revealed plans for a multi-billion raft of new deals with the UK in a major show of support for the country.
The Chinese technology giant pledged its support to the UK with the announcement new procurement deals that could reach £3 billion over the next five years.
The news followed discussions between Prime Minister Theresa May and Huawei chairwoman Madam Sun Yafang this week during the former’s state visit to China.
Huawei’s commitment to the UK entails a number of separate deals aimed at helping British companies increase their exports to the increasingly lucrative Chinese market.
The company will also look to up its research and development facilities across the UK, including at its two joint innovation centres in the UK, one in Ipswich with BT, and one in Newbury with Vodafone, with 5G likely to be a cornerstone of its future work.
“Thanks to the drive and innovation of UK business, backed by this Government, trade between the UK and China is already at record levels,” said Prime Minister Theresa May. “This visit is an opportunity to further showcase the best of British and boost jobs and prosperity throughout the UK.”
Huawei already works with the likes of BT and Vodafone in the UK, and employs more than 1,500 people across 15 offices in the country, with its headquarters in Reading’s Green Park. This week’s news follows a similar announcement by Huawei back in 2012 to invest and procure £1.3 billion in the UK over the period of 2013-2017 – a commitment the company says has actually now topped £2 billion.
“Huawei values long-term partnership,” said Madam Yafang. “The UK was one of the first international markets we entered, when we opened our first office there in 2001. We have now been working with our major customers in the UK for more than twelve years, helping to build a better connected UK. Over the coming years we look forward to continuing to collaborate with our customers and partners to help keep the UK at the very forefront of the digital age.”
- The Orange multi-billion revolution in Africa (by Simon Ateba)
- MULTI-BILLION DOLLAR POT INDUSTRY FINDS LIBERATION IN CROWDFUNDING PLATFORM
- Arrest Shakes Huawei as Global Skepticism of Its Business Grows
- China Tries to Balance Huawei Arrest with Warmer Trade Ties
- Global Startup Investments Rise by 23 % to $407.4 Billion in 2018, American Startups Corner 44% of The Total Investments
- ImageWare Chairman and CEO Jim Miller Talks About UK Market, ForgeRock, Fujitsu, HPE and Other Partnerships
- Africa Investment Forum: High-tech player Mara announces first African-made smartphone
- Trump's border wall pledge may be his 'read my lips' moment
- China pushes through changes to foreign investment law as US trade talks start
- Developers promising billions of dollars in investments for Opelousas, but details are scarce
- Hogsett, Develop Indy tout efforts to foster jobs, corporate investment
- Levine Leichtman Capital Partners Announces Eight Promotions Across US, UK and European Fund Groups
- Cuomo pledges $2.5 billion in clean drinking water upgrades
- Returns solution ZigZag Global receives multi-million GBP investment from Circularity Capital
- Mexico Pledges $30 Billion In Development Aid In Part To Deter Illegal Migration
- 2018’s $5.3 billion in Kentucky projects is state’s second-best year ever
- UK aid protects thousands from extreme weather as ‘mega storms’ tracked across Africa
- Migrant Caravan: Trump’s Billions in Aid Promise Won’t Help Central Americans Due to Region’s Rampant Corruption, Experts Say
- Intel to invest $11 billion on new Israeli chip plant: Israel Finance Minister
- A-List Attendees throw weight behind Africa Investment Forum 2018
Huawei makes multi-billion pound UK investment pledge have 559 words, post on www.itproportal.com at February 5, 2018. This is cached page on Law Breaking News. If you want remove this page, please contact us.